First DataBank Inc. to Participate in Effort to Identify New York State Pharmacy Drug Acquisition Costs
1/24/2012 6:16:08 AM
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--First Databank (FDB), a leading provider of clinical drug knowledge that helps improve medication-related decisions and a leading publisher of drug pricing information, today announced it is participating with the State of New York in a project that will result in a comprehensive survey of New York State pharmacy drug average acquisition costs. The use of an average acquisition cost, or AAC, was authorized as a reimbursement benchmark for New York State Medicaid by legislation enacted in April, 2011. AAC reimbursement was one of the initiatives generated by the New York Medicaid Redesign Team, which was tasked by Governor Cuomo to find ways to reduce costs and increase quality and efficiency in the Medicaid program.